Trident Ltd: ₹6,951 Cr Sales, World’s Largest Wheat Straw Paper Maker – Towels, Bedsheets, Paper & Sulphuric Acid, Ek Hi Thali Mein Chaar Sabzi
1. At a Glance
Trident is that overachieving kid who does everything — towels, bedsheets, copier paper, yarn, even sulphuric acid. One day they’re supplying Ralph Lauren towels to Americans, the next day they’re selling copier paper to your local Xerox shop. With ₹14,733 Cr market cap, promoters holding a fat 73.7%, and exports forming 56% of revenue, the company’s ambition is nothing short of threefold growth by 2027. The catch? Stock is trading at 34x PE while ROE is just 8.2%. Matlab towel toh premium hai, lekin return dekh ke lagta hai kapda sukhne mein hi 10 saal lagenge.
2. Introduction
Welcome to Trident Ltd — the ultimate combo of “Make in Punjab, Sell in Walmart.” Incorporated in 1990, the company has built its empire on three legs: home textiles (towels, bed sheets), yarn, and paper/chemicals. It is the world’s largest wheat straw-based paper manufacturer (basically making A4 sheets out of what desi gaay eats), and India’s No.1 branded copier in North India.
It’s also one of the largest terry towel makers in the world, proudly supplying to global retail chains like Ikea, Walmart, Target, Ralph Lauren, and also your Amazon cart. Its paper business enjoys the fattest margins among listed peers, while its yarn division keeps the textile ecosystem fed. If that wasn’t enough, they also manufacture sulphuric acid — because clearly after a long day of weaving towels, one should make acid.
The company has built global offices (New York, Cheshire UK) and distribution across 150+ countries. At home, it is trying to morph into a retail brand through “myTrident” and LUXEHOME, aiming to double footprint to 10,000 outlets. Ambition: to be as aspirational as H&M but with towel hooks in Ludhiana.
Question for readers: Would you buy bedsheets from the same company that also makes industrial sulphuric acid?
3. Business Model (WTF Do They Even Do?)
Trident’s portfolio = buffet menu:
Home Textiles (57% of revenue)
Towels, bed linen, luxury designer linen.
International brands: Macaron, Jiva, Hotelier.
Exports are king, with 50–60% revenue from just 5 clients.
